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Liberty cashes in on APRA crackdown

by Reporter4 minute read

Liberty Financial’s mortgage deal flow has lifted it into the top 10 for one of Australia’s major aggregation groups.

According to AFG’s latest competition index, the non-bank lender ranks ninth for average deal flow in March, April and May this year with 1.9 per cent.

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John Mohnacheff, national sales manager at Liberty, said the recent lending criteria changes by the banks has seen many of the big four’s traditional customers turn to providers such as Liberty for home loans.

“With APRA increasing bank lending regulation in late 2015, Liberty was well positioned to capture a large share of new loans and has seen positive and responsible growth as a result,” he said.

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“We’ve seen deal flow increase right across the business. For some of our product lines, it grew close to fivefold during the last year.

“After what has been a busy 12 months for Liberty, we are proud to be one of only a few independent lenders that has been there for our business partners.”

Mr Mohnacheff said the increase in new customers has also allowed Liberty to recruit talented new people across the country.

“We’ve strengthened our team with additional underwriters, sales managers and customer service representatives to ensure we are able to deliver the great service our business partners expect from Liberty,” he said.

Liberty continues to invest heavily in product innovation and consumer awareness to assist brokers in growing their revenue streams, Mr Mohnacheff added.

“The rollout of our consumer awareness campaign has triggered a great response from both customers and brokers,” he said.

“We understand how essential it is that we deliver great experiences to customers to help support the continued success of our business partners.”

[Related: Banks ‘close the umbrella’ on mortgage customers]

Liberty cashes in on APRA crackdown
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